Unity Software (NYSE:U) Receives “Outperform” Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Unity Software (NYSE:U) in a report issued on Friday,Benzinga reports. They currently have a $30.00 target price on the stock.

A number of other brokerages also recently issued reports on U. Wells Fargo & Company lowered their price target on Unity Software from $54.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. Barclays reduced their price objective on Unity Software from $35.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Arete Research upgraded shares of Unity Software from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Monday, December 1st. UBS Group lowered their target price on shares of Unity Software from $46.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 10th. Finally, Freedom Capital raised shares of Unity Software to a “strong-buy” rating in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $39.73.

Unity Software Trading Down 0.1%

NYSE:U opened at $19.42 on Friday. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of -20.23, a PEG ratio of 10.42 and a beta of 2.14. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average price is $29.51 and its 200-day moving average price is $37.33. Unity Software has a 52 week low of $15.33 and a 52 week high of $52.15.

Unity Software (NYSE:U) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $503.09 million during the quarter, compared to analyst estimates of $490.64 million. Unity Software had a negative net margin of 21.77% and a negative return on equity of 4.76%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.30) EPS. On average, equities research analysts forecast that Unity Software will post -1.25 earnings per share for the current fiscal year.

Insider Activity at Unity Software

In related news, CAO Mark Barrysmith sold 10,578 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $18.07, for a total transaction of $191,144.46. Following the completion of the sale, the chief accounting officer directly owned 383,901 shares in the company, valued at approximately $6,937,091.07. The trade was a 2.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Alexander Blum sold 2,541 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $18.76, for a total transaction of $47,669.16. Following the sale, the chief operating officer directly owned 548,425 shares of the company’s stock, valued at approximately $10,288,453. This represents a 0.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 41,684 shares of company stock worth $773,350. 3.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Unity Software

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jefferies Financial Group Inc. bought a new position in shares of Unity Software during the second quarter worth $205,000. Vanguard Group Inc. increased its holdings in Unity Software by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 34,556,611 shares of the company’s stock valued at $1,383,647,000 after acquiring an additional 930,293 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Unity Software by 148.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 22,181 shares of the company’s stock worth $537,000 after purchasing an additional 13,245 shares in the last quarter. Broad Peak Investment Advisers Pte Ltd lifted its stake in Unity Software by 43.6% in the 3rd quarter. Broad Peak Investment Advisers Pte Ltd now owns 2,849,437 shares of the company’s stock worth $114,091,000 after purchasing an additional 865,179 shares in the last quarter. Finally, Maytree Asset Management Ltd boosted its holdings in shares of Unity Software by 112.0% during the 3rd quarter. Maytree Asset Management Ltd now owns 217,846 shares of the company’s stock valued at $8,723,000 after purchasing an additional 115,111 shares during the last quarter. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

About Unity Software

Unity Software is a leading provider of a real-time 3D development platform that enables creators across industries to design, build and operate interactive, real-time experiences. Originally focused on the game development market, Unity’s technology now extends into sectors such as film, automotive, architecture, engineering and construction, delivering immersive content for mobile, desktop, console, augmented reality and virtual reality devices. The company’s core offering comprises a suite of authoring tools, runtime engines and cloud services that streamline the creation and deployment of interactive 3D applications.

The Unity Editor serves as the central hub where developers design scenes, script behavior and iterate on assets.